VINCI strengthens its offering in the railway sector by acquiring Vossloh Infrastructure Services
30 June 2008 - Acquisitions - Germany
Eurovia, a VINCI subsidiary, has concluded negotiations with German company Vossloh AG on the acquisition of its railway services division, Vossloh Infrastructure Services, which operates mainly in France. Completion of the takeover is subject to approval by the competition authorities.
By acquiring Vossloh Infrastructure Services, one of the French leaders in its segment, Eurovia is positioning itself in the buoyant market for railway infrastructure. It will gain expertise in areas including laying new track, in particular for high-speed lines, renovating and maintaining national railway networks and industrial sidings, installing and maintaining catenaries, and building and maintaining light rail and metro lines.
The fit between road and railway activities is seen at several levels within VINCI. In terms of bus rapid transit systems, several contracts have already been won by combining the know-how of the Group’s subsidiaries (Eurovia, VINCI Construction, VINCI Energies) with that of Vossloh Infrastructure Services. Examples : Lyons light rail system, Leslys, the Toulouse light rail system and the Cairo metro.
The integration of Vossloh Infrastructure Services will boost VINCI’s capacity to respond to public-private partnership tenders in the railway sector. In addition, Eurovia’s strong local roots will enable the new entity to increase its presence in the European market for building and modernising transport infrastructure.
With almost 1,600 employees, Vossloh Infrastructure Services generated 2007 pro forma revenue around €250 million, mainly in France (85%). The remainder was generated in other European countries (Germany and the Benelux), North Africa and Latin America.
Eurovia, a VINCI subsidiary, is a European leader in the construction and maintenance of transport infrastructure. With operations in 15 countries, the company has 39,000 employees and generated in 2007 a revenue of €7.7 billion.
VINCI is a global player in concessions and contracting, employing more than 222,000 peoplein nearly 120 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, above and beyond economic and financial results, we are committed to operating in an environmentally and socially responsible manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities. VINCI’s goal is to create long-term value for its customers, shareholders, employees, and partners and for society at large.